As Bitcoin (BTC) continues to fluctuate between $74,000 and $75,000 in recent days, there is growing speculation that the recent recovery may be the bottom.
At this point, an analyst shared a signal that correctly identified the bottom levels from 2025 to this year, and noted that this signal has yet to be triggered. Therefore, the analyst argued that the current recovery may be temporary.
Market analyst Omklar Godbole argues that the golden cross between Bitcoin’s 50-week and 100-week simple moving averages (SMA), an indicator that has accurately predicted major bear market bottoms in the past, has not yet occurred.
According to the analyst, this simple indicator has accurately pinpointed the bottom of every bear market since 2015. However, this signal has not yet been triggered.
According to the analyst, in a typical uptrend, the 50-week SMA is above the 100-week SMA. Conversely, during a bear market, the 50-week SMA falls below the 100-week SMA, a phenomenon known as a death cross.
In this context, the analyst stated that the recent Bitcoin recovery is not the bottom because the golden cross has not yet formed.
According to the analyst, although the two moving averages have approached each other, a golden cross (where the 50-week SMA crosses above the 100-week SMA) has not yet occurred.
“Three previous golden crosses signaled the start of a major bull market. However, that signal hasn’t materialized yet. Therefore, the current price surge may be temporary.”
*This is not investment advice.
